405 Peacock St

West Deptford, NJ 08066

$60,000B-

2 bd · 2.0 ba · 840 sqft · Built 1998 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,751/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$650
• Vac / Maint / Mgmt: −$368
• Net cashflow: $319/mo
• Annual: $3,826/yr
• Cap rate: 12.67%
• Cash-on-cash: 22.77%
• DSCR: 2.01
• 1% rule: 2.92%
• Cash to close: $16,800

Investor read

• This is a 2-bed/2.0-bath single-family listed at $60k. Condition is rated fair.
• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• West Deptford Township School District (suburban): math 24% / reading 50% proficiency, ranked #253 of 472 in NJ (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 37% of rent.
• Market conditions: 57 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,047 units permitted in Gloucester County in 2024 (183 in 5+ unit buildings).
• Gloucester County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: roof — Age and potential leaks
• Major: flooring — Worn and outdated carpet
• Major: interior walls/paint — Faded and outdated paint
• Major: HVAC/mechanicals — Age and potential inefficiency
• Major: landscaping — Overgrown lawn and lack of landscaping